|
Report No. : |
355047 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESQUEL ENTERPRISES LTD. |
|
|
|
|
Registered Office : |
12/F., Harbour Centre, 25 Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong
|
|
|
|
|
Date of Incorporation : |
22.11.1977 |
|
|
|
|
Com. Reg. No.: |
05365716 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter, Manufacturer’s Representative and Investment Holding of All kinds of garments and textiles such as blouses, shirts, trousers, slacks, tee & sweat shirts, night gown, pyjamas, sportswear, clothing accessories. |
|
|
|
|
No. of Employees : |
Over 50,000 [The Group] 700 [The Company] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 650,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
-- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international
trade and finance - the value of goods and services trade, including the
sizable share of re-exports, is about four times GDP. Hong Kong has no tariffs
on imported goods, and it levies excise duties on only four commodities,
whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil,
and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open
economy left it exposed to the global economic slowdown that began in 2008.
Although increasing integration with China, through trade, tourism, and
financial links, helped it to make an initial recovery more quickly than many
observers anticipated, its continued reliance on foreign trade and investment
leaves it vulnerable to renewed global financial market volatility or a slowdown
in the global economy. The Hong Kong government is promoting the Special
Administrative Region (SAR) as the site for Chinese renminbi (RMB)
internationalization. Hong Kong residents are allowed to establish
RMB-denominated savings accounts; RMB-denominated corporate and Chinese
government bonds have been issued in Hong Kong; and RMB trade settlement is
allowed. The territory far exceeded the RMB conversion quota set by Beijing for
trade settlements in 2010 due to the growth of earnings from exports to the
mainland. RMB deposits grew to roughly 12.5% of total system deposits in Hong
Kong by the end of 2014. The government is pursuing efforts to introduce
additional use of RMB in Hong Kong financial markets and is seeking to expand
the RMB quota. The mainland has long been Hong Kong's largest trading partner,
accounting for about half of Hong Kong's total trade by value. Hong Kong's
natural resources are limited, and food and raw materials must be imported. As
a result of China's easing of travel restrictions, the number of mainland
tourists to the territory has surged from 4.5 million in 2001 to 47.3 million
in 2014, outnumbering visitors from all other countries combined. Hong Kong has
also established itself as the premier stock market for Chinese firms seeking
to list abroad. In 2014 mainland Chinese companies constituted about 50% of the
firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% of
the Exchange's market capitalization. During the past decade, as Hong Kong's
manufacturing industry moved to the mainland, its service industry has grown
rapidly. Credit expansion and tight housing supply conditions have caused Hong
Kong property prices to rise rapidly; consumer prices increased by more than
4.4% in 2014. Lower and middle income segments of the population are
increasingly unable to afford adequate housing. Hong Kong continues to link its
currency closely to the US dollar, maintaining an arrangement established in
1983. In 2014, Hong Kong and China signed a new agreement on achieving basic
liberalization of trade in services in Guangdong Province under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from March 2015, cover
a negative list and a most-favored treatment provision, and will improve access
to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
ESQUEL ENTERPRISES LTD.
ADDRESS: 12/F., Harbour
Centre, 25 Harbour Road, Wanchai, Hong Kong.
PHONE: 852-2811
8077, 2960 6633
FAX: 852-2811
8067, 2960 6363, 2960 6988
E-MAIL: info@esquel.com
sales@esquel.com
MANAGEMENT:
Chairman & Chief Executive Officer:
Ms. Yang Mun Tak, Marjorie
Incorporated on: 22nd November, 1977.
Organization: Private Limited Company.
Issued Share Capital: HK$50,000,000.00
Business Category: Textile Product Merchant.
Group Turnover: Over US$1.5 billion.
Employees: Over 50,000 (the Group)
700 (the Company)
Main Dealing Banker: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
Credit Limit: US$ 650,000
ESQUEL ENTERPRISES LTD.
Registered
Office:-
13/F., Harbour Centre, 25 Harbour Road, Wanchai, Hong Kong.
Head Office:-
12/F., Harbour Centre, 25 Harbour Road,
Wanchai, Hong Kong.
[Will be relocated to 13/F. of the same building in mid-November 2012.]
Branch Office:-
Room 2909, 29/F., China Resources Building, 26 Harbour Road,
Wanchai, Hong Kong.
Factories:-
Hong Kong, China (Gaoming,
Yangmei, Ningbo, Changzhou & Xingjiang), Vietnam, Malaysia, Sri Lanka and
Mauritius.
Sales Offices:-
Shanghai, London, Beijing, Tokyo, Seattle, Madison, Columbus,
New York and Portland.
Retail Shops:-
Beijing & Gaoming, Guangdong Province,
China.
[Under the name of PYE]
Immediate Holding
Company:-
Esquel (Holdings) Ltd., Hong Kong.
Ultimate Holding
Company:-
Esquel Holdings Inc., British Virgin Islands.
Affiliated/Associated
Companies:-
Esquel Group of Companies
Addleshaw Co. Ltd., Hong Kong.
Afasia Knitting Factory (HK) Ltd., Hong Kong.
Afasia Textiles Manufacturing Co. Ltd., Hong Kong.
Akesu Esquel Agricultural Development Co. Ltd., China.
Akesu Esquel Cotton Industrial Co. Ltd., China.
Asia Garment Manufacturer (Vietnam) Co. Ltd., Vietnam
Becogate Ltd., Hong Kong.
Brilliant Smart Ltd., Hong Kong.
Changji Esquel Textile Co. Ltd., China.
Changzhou Esquel Garment Co. Ltd., China.
Changzhou Esquel Knitting Apparel Co. Ltd., China.
Cinnara Inc., British Virgin Islands.
Clytex (Hong Kong) Ltd., Hong Kong.
Copperfield Co. Ltd., Hong Kong.
[Dormant]
Deland Quarry & Mining Ltd., Hong Kong. [Dissolved]
East Ocean Textiles Ltd., Jamaica.
Econde International Ltd., Hong Kong.
[Dissolved]
Esquel - Y. L. Yang Education Foundation Ltd., Hong Kong.
Esquel (Far East) Ltd., Hong Kong.
[Dissolved]
Esquel (Hong Kong) Ltd., Hong Kong.
[Dissolved]
Esquel (Mauritius) Ltd., Mauritius.
Esquel Apparel Co. Ltd., Hong Kong.
[Dissolved]
Esquel Apparel Inc., USA.
Esquel Apparel Ltd., UK.
Esquel China Holdings Ltd., Hong Kong.
Esquel Cotton Investment Ltd., Hong Kong.
Esquel Detex Ltd., Hong Kong.
Esquel Enterprises (S) Pte. Ltd., Singapore.
Esquel Enterprises Macao Commercial Offshore Ltd., Macao.
Esquel Garment Manufacturing (Vietnam) Co. Ltd., Vietnam.
Esquel Garments Manufactory Ltd., Hong Kong. [Dissolved]
Esquel Group Ltd., Hong Kong.
Esquel Investment Co. Ltd., Hong Kong.
[Dissolved]
Esquel Japan Ltd., Japan.
Esquel Macao Holdings Inc., Macao.
Esquel Malaysia Sdn. Bhd., Malaysia.
Esquel Polybag Manufacturing Co. Ltd., Hong Kong.
Esquel Secretarial & Management Services Ltd., Hong Kong.
Fashion Outlet Ltd., Hong Kong.
Fenghua Esquel Garment Co. Ltd., China.
Golden Field United Textiles Ltd., Foshan, Guangdong, China.
Green House Enterprises Ltd., Hong Kong.
Guangdong Esquel Accessories Co. Ltd., China.
Guangdong Esquel Knitters Co. Ltd., China.
Guangdong Esquel Packing Co. Ltd., China.
Guangdong Esquel Plastic Co. Ltd., China.
Guangdong Esquel Textiles Co. Ltd., China.
Guilin Esquel Textiles Co. Ltd., China.
Keen Choice Enterprises Ltd., Hong Kong.
Marjorie Mun Tak Yang & Teresa Ming Yen Yang Ltd., Hong Kong. [Dissolved]
Ningbo Esquel Apparel Co. Ltd., China.
Polytex Garment Ltd., Sri Lanka.
Rawnsley Co. Ltd., Hong Kong.
[Dissolved]
Robot Ltd., Hong Kong.
Shandah Garment Factory Ltd., Hong Kong.
Silverdeer Ltd., Hong Kong.
Snif Labs Inc., USA.
Tai Lon Knitting (S) Co. Pte. Ltd., Singapore.
Taizhou Esquel Garment Co. Ltd., China.
Textile Industries Ltd., Mauritius.
The Eastern Corrugated Boxes Manufacturing Sdn. Bhd., Malaysia.
The Eastern Garment Manufacturing Co. (Kelantan) Sdn. Bhd., Malaysia.
The Eastern Garment Manufacturing Co. Sdn. Bhd., Malaysia.
The Eastern Knitters Manufacturing Co. Sdn. Bhd., Malaysia.
Turpan Esquel Textile Co. Ltd., China.
Way Yat Industrial Ltd., Hong Kong.
Xinjiang Esquel Agritechnology Co. Ltd., China.
Xinjiang Esquel Textile Co. Ltd., China.
Xinjiang White Field Farming Ltd., China.
Y.L. Yang & Associates Ltd., Hong Kong.
Yang Mei Garment Factory, China.
Young Post International Ltd., Hong Kong.
05365716
0056781
Chairman & Chief Executive Officer:
Ms. Yang Mun Tak, Marjorie
Vice Chairman: Ms. Yang Ming Yen, Teresa
HK$50,000,000.00 (Divided into 50,000,000 shares of HK$1.00 each)
(As per registry dated 22-11-2014)
|
Name |
|
No. of shares |
|
Esquel (Holdings) Ltd., Hong Kong. |
|
49,999,999 |
|
YANG Mun Tak, Marjorie |
|
1 |
|
|
|
––––––––– |
|
|
Total: |
50,000,000 ======== |
(As per registry dated 22-11-2014)
|
Name (Nationality) |
Address |
|
YANG Mun Tak, Marjorie |
Flat A, 5/F., Cragside Mansion, 23 Barker Road, Hong
Kong. |
|
YANG Ming Yen, Teresa |
Flat B, 3/F., Cragside Mansion, 23 Barker Road, Hong Kong. |
|
CHEH Huk Tau, John |
10/F., 38 Belleview Drive, Repulse Bay, Hong Kong. |
|
LEE Koon Lam |
Flat A, 30/F., 35-37 MacDonnell Road, Hong Kong. |
(As per registry dated 22-11-2014)
|
Name |
Address |
Co. No. |
|
Esquel Secretarial & Management Services Ltd. |
13/F., Harbour Centre, 25 Harbour Road, Wanchai, Hong Kong. |
0082352 |
The subject was incorporated on 22nd November, 1977 as a private limited
liability company under the Hong Kong Companies Ordinance.
Formerly the subject was located at Shandah Building,
682-684 Castle Peak Road, Kowloon, Hong Kong, moved to 16/F., Somerset
House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong in December
1994, and further to the present address with effect from 3rd October,
2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter, Manufacturer’s Representative
and Investment Holding.
Lines: All kinds of
garments and textiles such as blouses, shirts, trousers, slacks, tee &
sweat shirts,
night gown,
pyjamas, sportswear, clothing accessories.
Employees: Over 50,000
(the Group)
700 (the Company)
Commodities Handled:-
Garments – China, Philippines, Malaysia and Hong Kong.
Textiles – China, Malaysia, Taiwan and Hong Kong.
Markets: Australasia,
China, Japan, Korea, North America, Southeast Asia, Europe.
Group Turnover: Over
US$1.5 billion.
Terms/Sales: L/C (80%), D/P (10%) and D/A
(10%).
Terms/Buying: L/C or 30 days credit.
Itochu Corporation, Japan.
Kanematsu Corporation, Japan.
Sojitz Corporation, Japan.
Tomen Corporation, Japan.
Abercrombie & Fitch
Anta
Aoki
Banana Republic
Brooks Brothers
Cortefiel
Esprit
Fred Perry
Gant
Giordano
Hugo Boss
Ito-Yokado
J. Crew
Jack & Jones
JCPenney
Jos. A. Bank
Kohl’s
Lacoste
Lands’ End
LG Fashion
Marks & Spencer
Metersbonwe
Muji
Nautica
Next
Nike
Ralph Lauren
Right On
Septwolves
Shimamura
Ted Baker
Tommy Hilfiger
MEMBERSHIP: Federation of Hong Kong Industries, Hong Kong. [Member No. A8828]
The Hong Kong General
Chamber of Commerce, Hong Kong.
[Membership No. HKE0241]
Issued Share Capital: HK$50,000,000.00
(Divided into 50,000,000 shares of HK$1.00 each)
Increases of
Nominal Capital:-
|
From |
HK$ 10,000.00 |
to |
HK$ 1,000,000.00 |
on |
23-03-1978 |
|
From |
HK$ 1,000,000.00 |
to |
HK$ 2,000,000.00 |
on |
06-09-1978 |
|
From |
HK$ 2,000,000.00 |
to |
HK$ 5,000,000.00 |
on |
26-08-1980 |
|
From |
HK$ 5,000,000.00 |
to |
HK$15,000,000.00 |
on |
07-09-1982 |
|
From |
HK$15,000,000.00 |
to |
HK$25,000,000.00 |
on |
04-01-1983 |
|
From |
HK$25,000,000.00 |
to |
HK$40,000,000.00 |
on |
15-11-1983 |
|
From |
HK$40,000,000.00 |
to |
HK$50,000,000.00 |
on |
18-02-1985 |
Mortgage or Charge: (See attachment)
Profit or Loss: Operation
is profitable.
Condition: Maintaining in an active
state.
Facilities: Making active use of general
banking facilities.
Payment: No Complaints.
Commercial Morality: Good.
Bankers:-
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
BNP Paribas, Hong Kong Branch.
Credit Agricole Corporate & Investment
Bank, Hong Kong Branch.
Citibank N.A., Hong Kong Branch.
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Standing: Very Good.
Esquel Enterprises Ltd. [Esquel] was incorporated in November 1977 and
commenced business in March 1978. It was
a partnership firm between Mr. Yang Yuan Loong and some Shanghainese merchants. Now it is a wholly-owned subsidiary of Esquel
(Holdings) Ltd., a Hong Kong-based firm, which is in turn a subsidiary of
Esquel Holdings Inc., a BVI-registered firm.
Esquel is the flagship company of the Esquel Group, a private textile
organization which consists of a number of companies in Hong Kong and
world-wide. The Group is the world’s
leading textile and garment manufacturer with operations in Hong Kong, China,
Malaysia, Mauritius, Sri Lanka and Vietnam, as well as sales offices in Japan, the
United States and the United Kingdom.
Founded in 1978, Esquel manufactures high quality garments for famous
brands including Abercrombie & Fitch, Anta, Aoki, Banana Republic,
Brooks Brothers, Cortefiel, Esprit, Fred Perry, Gant, Giordano, Hugo Boss, Ito-Yokado,
J. Crew, Jack & Jones, Jcpenney, Jos.
A. Bank, Kohl's, Lacoste, Lands' End,
LG Fashion, Marks & Spencer, Metersbonwe, Muji, Nautica, Next, Nike, Ralph
Lauren, Right On, Septwolves, Shimamura, Ted Baker, Tommy Hilfiger. Its products are WRAP, ISO9001, 14001, OHSMS
18001 and 28001 certified.
Its unique one-stop shop has strategically integrated cotton farming,
spinning, weaving, knitting, dyeing, finishing, retailing as well as
accessories manufacturing.
To meet its huge demand for cotton, the group has a cotton farm in
Xinjiang, China which grows the world-renowned Xinjiang extra-long staple
cotton. The cotton is then spun, woven,
knitted, dyed and finished in the Group’s manufacturing facilities in Xinjiang,
China. So far, the Group has made an investment
in Xinjiang over US$100 million.
Esquel now manufactures 6 million dozens garments annually, most of its
products are being men’s pure cotton and chief value cotton apparel. Esquel employs 47,000 people worldwide. For Hong Kong alone, there are about 700
staffs. The annual turnover of the group
amounts to over US$1.5 billion.
In 1996, the Group launched a retail franchise chain in the PRC, called
“Pye”, the Chinese word for
style. “Pye” is Esquel’s own brand.
Its sales are growing smartly and now has two shops in the PRC. Besides “Pye”,
Esquel also owns another brand name “Shirt Stop”.
In 1989, Esquel got many directors changed and the former Managing
Director, Mr. Jesse Zee left Esquel.
Management is now under the hands of Ms. Marjorie Yang and Mr. John
Cheh Huk-Tau.
Ms. Yang is the daughter of the late Yang Yuan Loong and ex-wife of
Mr. Dickson Poon who is Chairman of Dickson Concepts (International)
Ltd. Ms. Yang has been managing director
of fashion label Esquel Group since 1989 and chairman since 1995. Born in Hong Kong in 1952, she was educated
at St. Paul’s Co-educational College in Hong Kong and at Baldwin School in
the United States. She got a Bachelor of
Science in Mathematics at MIT, Cambridge, Massachusetts, in 1974 and a Master’s
in business Administration at Harvard Business School in 1976. She had been working in First Boston
Corporation between 1976-77 before returning to Hong Kong to become director
who was in charge of finance at Esquel in 1978.
She had rushed back to Hong Kong from First Boston when her father fell
ill in 1978. He survived and convinced
her that the opening up of China market offer would big opportunities for the
family business. Ms. Yang is a member of
the Executive Council of the Government of Hong Kong SAR. She is also a Director of Swire Pacific Ltd.
and Novartis AG. She sits on various
advisory boards of educational institutions including Massachusetts Institute
of Technology, Hong Kong University of Science and Technology and Tsinghua
School of Economics and Management.
Mr. Yang Yuan Loong, passed away in 2007, was the ex-Chairman of the
Esquel Group and former Director and Manager of Textile Alliance Ltd. [TAL], ex-largest textile organization in Hong Kong.
The subject is fully supported by Esquel Group. History in Hong Kong is over 37 years and
eight months.
On the whole, consider the subject good for normal business engagements.
Brief personal profile of the director:
Yang, Mun Tak Marjorie, aged 62, has been a Director of the subject for
a very long time. She is Chairman of
Esquel Group, and a Director of The Hongkong and Shanghai Banking Corporation
Ltd. She also serves as Chairman of the
Hong Kong – U.S. Business Council, and as Deputy Chairman of the Seoul
International Business Advisory Council. She is Chairman of the Hong Kong
Polytechnic University Council, a member of the Massachusetts Institute of
Technology Corporation, and sits on advisory boards at Harvard Business School
and Tsinghua School of Economics and Management.
Court case:-
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Jan. 1984 |
Hoovercool Engineering Co. Ltd. |
Esquel Enterprises Ltd. |
Goods Sold and Delivered |
HK$9,900 |
|
Feb. 1986 |
Lap Shun Textiles Industrial Co. Ltd. |
Esquel Enterprises Ltd. |
Goods Sold and Delivered |
HK$676,236 |
|
Aug. 1986 |
Quicken Textile Ltd. |
Esquel Enterprises Ltd. |
Goods Sold and Delivered |
HK$3,532,126 |
|
Feb. 1990 |
King’s Dyeing & Weaving Factory (1986) Ltd. |
Esquel Enterprises Ltd. |
Work Done |
HK$286,502 |
|
Nov. 1990 |
Reuters HK Ltd. |
Esquel Enterprises Ltd. |
Amount Due |
HK$320,303 |
|
Oct. 1991 |
Kwong Tak Fong Textiles Ltd. |
Esquel Enterprises Ltd. |
Amount Due |
HK$391,786 |
Property information of Esquel Group:-
Property Location: Apartment
B on 6/F. & Portion of the roof of Cragside Mansion, 23 Barker Road,
Hong Kong.
Owner: Y.L. Yang & Associates
Ltd.
Date of Purchase: 20-01-1997
Purchased Price: HK$60,000,000
(Pt.)
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
20-01-1997 |
- |
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong. |
Mortgage to secure general banking facilities |
|
06-08-1998 |
- |
- ditto - |
Deed of Variation & Further charge |
Note: The Yang’s family also owns
some residential properties in Guangdong, Shanghai and Beijing in China; one
plot of land in Connecticut in USA; one residential property in Florida, USA;
one residential property in British Columbia, Canada; some residential
properties in Singapore; and other residential properties on Hong Kong
Island.
|
Date |
Particulars |
Amount |
|
30-04-1979 |
Instrument: Charge on Deposit Property: All monies now or hereafter standing to the credit of US$250,000 Mortgagee: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong. |
To secure general banking facilities |
|
19-06-1987 |
Instrument: Guarantee of Loan Facilities to The
Eastern Garment Manufacturing Co. Sdn. Bhd., Malaysia. Property: Any security now or hereafter held by or for the company from The
Eastern Garment Manufacturing Co. Sdn. Bhd. in respect of the liability of
the company under this instrument Mortgagee: Bank Bumiputra Malaysia Bhd.,
Hong Kong Branch. [Renamed to
Bumiputra-Commerce Bank Bhd. and further to CIMB Bank Bhd.] |
M$4,000,000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
HKD |
1 |
Rs.8.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.